Versor Investments LP Makes New $431,000 Investment in Avis Budget Group, Inc. (NASDAQ:CAR)

Versor Investments LP bought a new position in shares of Avis Budget Group, Inc. (NASDAQ:CAR) during the 3rd quarter, HoldingsChannel reports. The firm bought 4,926 shares of the business services provider’s stock, valued at approximately $431,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Valley Advisors LLC bought a new position in Avis Budget Group during the 2nd quarter worth about $25,000. EntryPoint Capital LLC lifted its position in shares of Avis Budget Group by 119.2% during the first quarter. EntryPoint Capital LLC now owns 228 shares of the business services provider’s stock valued at $28,000 after buying an additional 124 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in shares of Avis Budget Group by 198.3% during the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider’s stock valued at $32,000 after buying an additional 240 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider’s stock valued at $36,000 after buying an additional 305 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Avis Budget Group by 180.0% during the second quarter. Signaturefd LLC now owns 714 shares of the business services provider’s stock valued at $75,000 after buying an additional 459 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors.

Avis Budget Group Stock Up 0.9 %

Shares of Avis Budget Group stock opened at $106.56 on Friday. Avis Budget Group, Inc. has a 52 week low of $65.73 and a 52 week high of $204.77. The company has a 50 day moving average price of $84.21 and a 200 day moving average price of $96.31. The firm has a market capitalization of $3.74 billion, a P/E ratio of 9.81 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing the consensus estimate of $8.55 by ($1.90). Avis Budget Group had a negative return on equity of 101.41% and a net margin of 3.34%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the company posted $16.78 EPS. Avis Budget Group’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Avis Budget Group, Inc. will post 5.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna decreased their price target on shares of Avis Budget Group from $120.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Barclays assumed coverage on shares of Avis Budget Group in a research report on Thursday, September 19th. They set an “equal weight” rating and a $105.00 price target for the company. Finally, StockNews.com raised shares of Avis Budget Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Avis Budget Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.13.

Avis Budget Group Company Profile

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.